After a six-day rally in the stock market, it’s not a big surprise that it’s seeing some pressure this morning. However, the fact that long-term yields are pushing to new highs for this move, it could turn into a bigger decline before too long.
With the recent developments in the credit markets, it will be essential that we get another extremely strong earnings season. That season kicks off next week with the bank earnings…and this key group is headed in the wrong direction (in a meaningful way).
